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Fitch Lowers US Outlook
Source: Agencies |
November 30, 2011, Wednesday
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Print Edition
Print Edition
FITCH said it will keep its rating for long-term United States debt at the top AAA level, despite a congressional panel's failure to agree on long-term deficit cuts. But it is lowering its outlook to negative.
It said on Monday that it has less confidence in the US government's ability to take the necessary steps to rein in the deficit.
A special congressional panel failed last week to reach agreement on US$1.2 trillion in deficit cuts over the next decade. The impasse triggered automatic cuts of the same amount, which are due to start at beginning of 2013.
Moody's Investors Services and Standard & Poor's also left their ratings unchanged last week. But Moody's may lower its rating if Congress backed off the automatic cuts.
It said on Monday that it has less confidence in the US government's ability to take the necessary steps to rein in the deficit.
A special congressional panel failed last week to reach agreement on US$1.2 trillion in deficit cuts over the next decade. The impasse triggered automatic cuts of the same amount, which are due to start at beginning of 2013.
Moody's Investors Services and Standard & Poor's also left their ratings unchanged last week. But Moody's may lower its rating if Congress backed off the automatic cuts.
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